Bitcoin Lightning Sports Betting Deposits And Payouts
- Fast Layer 2 Blockchain Transactions Through The Lightning Network
- Available For Sportsbook Deposits And Payouts
- Rivals Credit Card Transaction Speeds
In the realm of online sportsbook banking options, cryptocurrency is one of the most consistent in terms of transaction speeds. If you want to speed up your altcoin deposits and payouts, Bitcoin Lightning is a method you should consider.
Due to exponential increases in the number of users and transactions on the BTC blockchain, Bitcoin sports betting deposits and payouts take longer and longer to complete. The Lightning Network creates a bypass for off-chain deposits and payouts, expediting the process considerably. Think of it as an alternate route off the highway that speeds up your trip.
Bitcoin Lightning sports betting deposits and payouts are secure, easy, and very fast. Here you can find out how a BTC Lightning transaction works and why it is an excellent alternative to standard cryptocurrency banking.
Bovada Sportsbook
The #1 Bitcoin Lightning Sports Betting Site
Bovada’s online sportsbook is our highest-rated sports betting site. They were the first to offer Bitcoin Lightning deposits and withdrawals. They have been legally accepting American players since 2011 and are the online sportsbook that we frequent the most. You can use Bovada to bet on sports using personal computers and mobile devices.
✔ Pros
- Fast Bitcoin Lightning Deposits And Payouts
- Access Allowed In Most US States
- A Top-Rated Mobile Sportsbook App
- Accepts Players Starting At 18 Years Old
- Includes A Thorough User Guide For Using Bitcoin Lightning
✘ Cons
- Does Not Accept Players From AZ, CO, CT, DC, DE, KS, LA, MA, MD, MI, NH, NJ, NV, NY, OH, PA, RI, TN, VT, or WV.
The Best Bitcoin Lightning Sportsbooks
| Site Name | Current Bonus | Age | U.S. | Visit Site | |
|---|---|---|---|---|---|
 |  | 50% Max $1,000 | 18+ |  | Visit Site Review |
| 2 |  | 125% Max $3,125 | 18+ | | Visit Site Review |
| 3 |  | 50% Max $250 | 18+ | | Visit Site Review |
Is It Legal To Bet On Sports With Bitcoin Lightning?
Yes. There are no gambling laws in the United States that forbid betting on sports using Bitcoin Lightning or any other form of cryptocurrency. We've yet to hear of any domestic sportsbooks allowing crypto payments, but the offshore sportsbook sites we recommend here accept it.
Legitimate online sports betting sites residing outside of the United States are not governed by state or federal regulations, thus allowing Americans to use them over the web without breaking any laws. This is the case for any offshore sportsbook mentioned in this guide.
How To Use Bitcoin Lightning For Sports Betting Transactions
There is really no difference in using Bitcoin Lightning versus a standard Bitcoin deposit or payout other than the fact that you simply select BCL rather than BTC in the banking suite of the bookmaker you are using, and your transaction is processed much faster.
As in anytime you use crypto to fund your account, the sportsbook will give you an address to send your deposit over to - so the actual steps will look the same as any other crypto deposit. The only difference is the transaction is handled off-chain through the Lightning network.
All of the sportsbooks supporting Bitcoin Lightning provide very solid tutorials that quite literally take you by the hand and show you what to do. They have tutorials for BTC newbies and for veteran crypto users. If you are brand new to using this type of funding or payout method, just visit the help section at any of our featured sportsbooks for a detailed description of the steps involved.
Crypto Sportsbook Bonuses
Bonuses at sports betting sites are a nice way to add extra money to your bankroll when depositing funds. These promos are almost always based on a percentage of your deposit and are usually focused on new signups but are sometimes offered to existing members as reload bonuses as well.
Cryptocurrency deposits often provide access to larger and more beneficial bonuses and promotions, which is another good incentive to use methods like bitcoin lightning for betting on sports.
If you decide to accept a sportsbook promo, we advise reading any completion terms to make sure you can meet them before any deadlines. These terms, as well as any sportsbook promo codes, will be spelled out on a dedicated promotions page at each sports betting site.
What Is Bitcoin Lightning?
The Bitcoin Lightning Network is a second-layer scaling solution designed to make Bitcoin transactions faster, cheaper, and more scalable. It works on top of the Bitcoin blockchain through the use of smart contracts and is intended to handle micropayments and high transaction volumes without congesting the main chain.
By using only select operators that are certified for high bitrates and fast transactors, the Lightning Network can expedite the process. Payments are enforced by smart contracts that establish the off-blockchain payment channels, removing the requirement of creating an on-blockchain transaction.
To give you an idea of the speed differences between the layer 1 BTC blockchain and the layer 2 Bitcoin Lightning blockchain (also referred to as off-blockchain), layer 1 can usually complete fewer than ten transactions per second as compared to the layer 2 Lightning Network that is intended to complete millions of transactions per second.
What Is A Lightning Exchange?
A Lightning Exchange is a platform that facilitates fast, low-cost cryptocurrency transactions using the Lightning Network. Instead of standard blockchain transactions, Lightning Exchanges uses off-chain payment channels for payments that work about as fast as a credit card.
Users deposit funds into a Lightning wallet, enabling them to trade quickly and efficiently without concern for blockchain congestion. Money can move back and forth between the trading parties, and the blockchain will settle the transaction once the loop is closed on both sides.
These exchanges were created because certain altcoin transactions are already clocking in at north of ten minutes, making these crypto coins more future-proof.
Can You Buy Bitcoin Lightning?
No. A Bitcoin Lightning transaction involves paying or getting paid with BTC using the Lightning Network. You need to own BTC already to use it on the Lightning Network. Bitcoin can be purchased via crypto exchanges or banking apps.
Bitcoin Lightning transactions can be initiated at any sports betting site we recommend in this guide by anyone holding BTC that is of appropriate age.
Do I Need A Crypto Wallet To Use BTC Lightning?
Bitcoin Lightning is the processing of BTC transactions on the Lightning Network. You’ll need to own some Bitcoin to make a payment on the Lightning Network, and that BTC will need to be stored on a cryptocurrency wallet or on an online exchange that stores it on your behalf.
Is Bitcoin Lightning Worth Using?
Yes. We admit that the technicalities of Bitcoin Lightning transactions are somewhat complicated, but your takeaway should be that this is a speedy workaround to standard blockchain processing. You are still sending BTC from one address to another, just as you would with any crypto transaction, so the actual steps are really almost identical to what they've always been.
Some BTC users may be accustomed to waiting fifteen minutes or more for payments to go through, but those wait times will only increase as more transactions are added to the blockchain.
The Lightning Network makes connections in a way that allows the user to make payments at the same speed as a credit card, which should appeal to anyone interested in reducing BTC processing times.
Do Other Altcoins Work On The Lightning Network?
The Lightning Network was initially designed for Bitcoin, but the technology can be adapted for other altcoins. However, not all altcoins support this second-layer solution due to differences in blockchain design or community priorities.
While adoption is still growing, the Lightning Network’s success with Bitcoin has inspired other projects to explore similar solutions. Due to Litecoin’s similar build to BTC, we expect Lightning Network support for LTC in the near future.
